Wal-Mart Third-Quarter Profit Rises on Sales Abroad
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Wal-Mart Stores Inc., the world’s largest retailer, reported a 9.3 percent gain in third-quarter profit as growth abroad helped make up for sales declines at U.S. stores.
Net income rose to $3.44 billion, or 95 cents a share, the company said today in a statement. Excluding a tax benefit, profit was 90 cents, matching the average of estimates compiled by Bloomberg. Sales abroad rose 7.9 percent on a constant currency basis, helped by Brazil and Japan.